Nashville Real Estate Closings Up, Pendings Fall

June 10, 2010 by admin · View Comments 

If you were one of those drum beating, forever optimistic, ‘buy now or miss the deal of a lifetime’ type of real estate agents, this is what you might spin this month: Nashville home sales up an astounding 25.8 percent in May. You may also write: Year-to-date Nashville closings are up 20.4 percent through the [...]

April 2010 Nashville Real Estate Market Analysis

May 18, 2010 by admin · View Comments 

The Middle Tennessee MLS (Realtracs) has reported April 2010 housing statistics. The following graphs and analysis are based on the greater Nashville residential single family homes and condos market only. Note: on April 30, the federal housing tax credit for first-time home buyers culminated giving rise to purchases that may have occurred later in the housing cycle. [...]

When to Reappraise a Home in a Flooded Neighborhood

May 6, 2010 by admin · View Comments 

I must admit that this is the first time I have fielded an emailed question having to do with such a widespread natural disaster. The question is a very good one and I thought it best to share the conversation on my blog as many of you in Nashville may be experiencing the same situation. I [...]

What Happens to the Nashville Market Post Flood?

May 4, 2010 by admin · View Comments 

If the flooding caused by Hurricane Katrina in New Orleans was any indication, Nashville real estate prices will rise in the coming months. I realize that this statement may appear counterintuitive in the wake of such devastation, but the underlying fundamentals of a capital market remain unaffected, the simple laws of supply and demand dictate [...]

Nashville Condo Prices

April 12, 2010 by admin · View Comments 

Most of you know that I keep a keen eye on the Nashville condo market and prices, but many of you don’t realize how much in-depth research I do. It is also interesting to learn that many buyers assume that the Velocity in the Gulch is the least expensive condo development in Nashville, but that is [...]

Al Gore’s Home or George Bush’s Ranch

March 21, 2010 by admin · View Comments 

Okay, so many of you have seen a similar email containing similar information, but I felt it was time to break from my typical serious article and insert a little housing irony. Which of the following two home descriptions belong to Environmentalist Al Gore’s house? BTW – Liz and I certainly could shore up the energy efficiency [...]

30 Year Mortgage Rates Under 5 Percent, Trouble

March 18, 2010 by admin · View Comments 

At the end of last week, Freddie Mac reported that mortgage rates remained under the 5 percent mark for the second consecutive week, with the average interest on a 30-year fixed loan coming in at 4.95 percent from 4.97 percent a week earlier. Meanwhile, interest on 15-year fixed loans averaged 4.32 percent versus 4.33 percent the [...]

Rare Foreclosure in Belle Meade

March 11, 2010 by admin · View Comments 

The downturn in the economy has reached the Belle Meade area of Nashville resulting in a foreclosure of a 3,250 square foot renovated home. The home was originally built in 1940 and is located in the Highlands area of Belle Meade at 308 Page Road. The Kemps had purchased this property for $581,830 on 2/11/2005 [...]

Don’t Believe the Nashville Real Estate Hype…Yet

March 9, 2010 by admin · View Comments 

I have read either this exact sentence or a very close derivation of it about a dozen times since the Greater Nashville Association of Realtors (GNAR) published the February 2010 home sales results: “Home sales are already at a frenzied level in the first month of the year so you better hurry! Inventories are at [...]

Warren Buffett Predicts End of Housing Crisis

March 1, 2010 by admin · View Comments 

According to Bloomberg News, Billionaire Warren Buffett said the U.S. residential real estate slump will end by about 2011, predicting that’s how long it will take demand for homes to catch up with the supply. “Within a year or so, residential housing problems should largely be behind us,” Buffett wrote on February 27 in his [...]

What’s Wrong with Hampton Reserve in Brentwood?

February 20, 2010 by admin · View Comments 

I’m not sure that anything is wrong with Hampton Reserve, but there is certainly something wrong with the high end housing market in Brentwood…BUT, that’s only if you are a seller. If you are a buyer who has always wanted a McMansion in a gated neighborhood, break out the drool bib because your day has [...]

John Rich Buys Seanachie Irish Pub in Nashville

February 17, 2010 by admin · View Comments 

Country music superstar John Rich and business partner Phil Martin, have purchased the Seanachie Irish Pub building in downtown Nashville. The building, located at 329 Broadway is pending renovations as the group is currently in the process of acquiring building permits, submitting plans and the like. While I have not been able to confirm the [...]